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Tilney acquires book of assets from Midas

03 August 2017

Tilney, the UK-wide investment and financial planning group, is pleased to announce that it has concluded an agreement to acquire the assets of Midas Investment Management.

Midas is a Manchester-based private client investment management and advisory business that was established in 2001. Midas supports £162 million of client assets through a combination of discretionary, advisory and execution-only accounts as well as a specialist IHT relief portfolio management service. The transaction will see this book of assets and clients transfer to Tilney, along with Simon Reeks, director of private client investment management who has worked at Midas since its inception, and senior settlements executive Michael Waddington. Simon and Mike will be based in Tilney’s Manchester office.

Alan Edwards, Tilney’s Head of Investment Management in England, commented: “We are delighted to conclude this agreement which will add to the really strong team Tilney has in its historic heartland of North West England, while providing continuity of relationships for Midas’s clients. Simon is a first class private client investment manager with great client relationships and I am confident he will play a key role in successfully growing our business further in the region.”

Mark Sheppard, founder and owner ofMidas, added: “I am proud that since 2001 we have built a business that has always put our clients first and so as Simon and I thought about the right new home for our clients, it was vital to find a firm with a similar ethos. In Tilney we have found a firm focused on delivering a really personalised and professional range of services, with a strong commitment to the North West and with an excellent investment pedigree. I wish Simon and Mike every success at Tilney.”

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Important information

The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested.This press release does not constitute personal advice.

About Tilney

Tilney is a leading investment and financial planning firm that builds on a heritage of more than 150 years. The Tilney Group operates under the Tilney brand for Investment Management and Financial Planning and Bestinvest for execution-only investing. We look after more than £22 billion of assets on our clients’ behalf and pride ourselves on offering the very highest levels of professional client service with transparent, competitive pricing across our entire range of solutions.

We offer a range of services for clients whether they would like to have their investments managed by us, require the support of a highly qualified adviser, prefer to make their own investment decisions or want to take more than one approach. We also have a nationwide team of expert financial planners to help clients with all aspects of financial planning, including retirement planning.

We have won numerous awards including Best Fund Platform and Best SIPP Provider at the 2017 City of London Wealth Management Awards; Investment Award – Cautious category in the Private Asset Management Awards; and Stockbroker of the Year, Execution-only Stockbroker of the Year and Self-select ISA Provider of the Year 2015, as voted by readers of the Financial Times and Investors Chronicle. We are pleased that our greatest source of new business is personal referrals from existing clients.

Headquartered in Mayfair, London, Tilney Group employs over 1,000 staff across our network of offices, giving us full UK coverage, and we combine our award-winning research and expertise to provide a personalised service to clients whatever their investment needs.

Gillian Kyle

Katy Moore

The value of your investment can go down as well as up, and you can get back less than you originally invested.

Past performance or any yields quoted should not be considered reliable indicators of future returns. Restricted advice can be provided as part of other services offered by Tilney Group, upon request and on a fee basis. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex; they may also have risks relating to the geographical area, industry sector and/or underlying assets in which they invest. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

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